As a day trader you must keep the odds in your favor. Today, I personally only took a few scalp trades in this slower session, as the markets are waiting on the Beige book. So, when you are looking for trades in a market where there is almost no action; you must enter only the stocks which have multiple factors in your favor - this is how you increase your winning odds in a slow market. 

For example, this morning I Scalped BIDU for an easy, but modest $50.00 profit in seconds. The move in the stock was $1.50. Even if you bought only 500 shares of this stock, you are making great profits. But let’s go over this trade here and why I liked it. I noticed BIDU was piercing the 10min chart 200 ma, with the lighter volume, I knew that the 50ma would not be touched. My entry on this trade was $151.15, and it worked out for a nice gain. To summarize, on lighter volume or lacking action days in the markets, cut your share size down, and look for multiple factors to increase your odds of success.


 

Kristof De Block

Elite Round Table